Builder GL Homes has opened a $7 million clubhouse at its Valencia Reserve development west of Boynton Beach, although it has sold less than half of the homes there in the past two years. Around 600 people came to celebrate the clubhouse’s opening, along with GL founder Itchko Ezratti. The move to complete the clubhouse is likely one of reassurance, said Brad Hunter, head of research firm Metrostudy’s South Florida office. “Consumers want to be reassured that amenities that were promised will actually materialize,” Hunter said.

Home sales in Boynton Beach’s western suburbs have been driving its
emergence from the downturn, with homes built by GL Homes leading the
charge. The Sunrise-based builder has been bolstering the residential market in Broward and Palm Beach counties, even topping Miami-based Lennar. Four of the top five residential sales in Boynton Beach last quarter
were GL Homes properties, according to data from Condo Vultures. (To
see a list of the five top Boynton sales, click here.) “A lot of the good, stable properties are starting to rebound,” said realtor David Podgursky of Boca Executive Realty.
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Sunrise-based GL Homes has closed sales of 416 homes in Palm Beach and Broward counties in the past year, more than twice that of Miami-based home builder Lennar, which had 200 in the same period, according to research company Metrostudy. GL has signed contracts with 172 buyers for more than $70 million at Valencia Reserve to the west of Boynton Beach near Florida’s Turnpike. GL increased prices at Valencia Reserve, with homes starting at $266,900. GL has no new projects in Broward, though it is working on several communities in Palm Beach County, including Canyon Springs and Equus, all, like Valencia Reserve, west of Boynton Beach. [Sun Sentinel]

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